All Forum Posts by: Jennifer Slaughter

@Jason Hopkins feel free to DM for info

@Neil Sinha, I couldn't tell you for sure how he does it, it's his area of expertise and I let him do his thing.

@Neil Sinha, good question, and no, I cash out the purchase price plus the rehab cost.  I know my lender lends in many states but I can't think of all of them off the top of my head, I use him in Tennessee and Colorado.  As long as we did the math right and no surprises come up, I get back every dollar that I put into the house, minus my closing costs.  Feel free to DM if you would like his info.

I know people like their local banks too but I haven't made a presentation or gone that route...yet.

Hey @August Faustino, I met James from Memphis Investment Properties back when I was interviewing TK providers and I've been investing with him ever since.  When you're investing out of state, it's all about having a great team and they have everything from acquisition, rehab, property management, to appraisers under the same roof.  I like to visit Memphis when I can and I would highly recommend a visit. 

Hey @Mark J., I do a cash out refi as soon as the rehab is complete and the property is tenanted, which is why we start marketing the rental while the house is being renovated. If I can only fund one BRRRR at a time, from the day I close until the day I cash out, it shouldn't take more than 3 months and it almost always takes less time than that.

 I do a "delayed financing" option with my lender, pay cash for the property and then do the cash out at the new value without a seasoning period.  

This inviting home is located in the Bartlett area of town. Outside, the exterior of the home will be pressure washed and all loose boards on the home replaced, and windows will be replaced. New paint will be added to the house in Farrell-Calhoun’s Urban Putty for larger areas, and Brilliant White for the trim. The yard will get a hard clean, meaning the landscape will be changed and cleaned dramatically to improve curb appeal. A new mailbox with iron post, Driveway patch, and privacy fence repair will add to the curb appeal as well. A new HVAC system will also be added to this home. Inside, all plumbing and electrical will be checked to ensure proper working order. Iron security doors will be added to all exterior doors, and re-keyed for safety. The interior walls will be painted the with the same colors as the outside of the home, making sure all sheet rock is repaired before doing so. All hard surface flooring will be added to the home, tile in the kitchen and bathroom(s) and Resilient plank flooring added to the rest of the home. In the kitchen you will find new countertops and appliances. The bathrooms will receive new vanities and tops. Add a hardware package to the deal and the home will be photo and rent ready!

Please click on the link to view our offering memorandum:

https://sites.google.com/jameswachob.com/3922oakbranchcirclewest/home

@Tasha Beal, congratulations on graduating soon and kudos to you for getting started in investing so young, that's great.

With investing, each day there are new opportunities and new expert opinions and with a post like this you will likely get a bunch of valuable yet conflicting ideas.  So with that said, 1.) you can invest wherever it makes sense and live where you want, 2.) develop a vision, criteria, objectives and then take action, be flexible, and repeat and adjust as necessary.  

It's an exciting time to be in the education/researching phase.  Research markets, be a savvy investor, and don't get emotional about real estate.  I invest locally and out of state and the more experience I get, the more I focus on the latter.  It just makes more sense for me and my goals.  BP is an amazing resource, use it to your advantage! 

Welcome @Gregory A.! We started investing while we were in VA too, while my husband was in USN. We have some experience investing locally and out of state, feel free to reach out if you have questions and BP is a great resource. Best of luck!

@Sean Thompson, how frustrating! There are so many moving parts so each professional needs to be competent and reliable or its a mess.  I have a lender that I would recommend, he lends on our refinances in Memphis, feel free to pm me if you want his info.

This attractive property is located in the Raleigh Springs

area of town. The exterior of the home will be updated by

replacing any loose boards and painting the homs in Farrell‐

Calhoun paint. Curb appeal will be increased by

landscaping the property. Inside, sheetrock will be

repaired and painted the same colors as the exterior of the

home‐ Farrell‐Calhoun’s “Urban Putty” for the walls, and

“Brilliant White” for trim. The HVAC system will be checked

to ensure working quality. All plumbing and electrical will

be checked and repaired as needed.

Please click on the link to view our offering memorandum:

https://sites.google.com/jameswachob.com/6625santaolinadrive/home